135 savers of 5 troubled cooperatives receive refunds from loan recovery
The Problematic Cooperative Management Committee has refunded 135 small savers of 5 troubled cooperatives using funds recovered from loan collections. In the first phase, priority was given to savers with smaller deposits.
Kathmandu. The Problematic Cooperative Management Committee has refunded 135 small savers of 5 troubled cooperatives using funds recovered from loan collections.
According to the Committee, the breakdown of refunded savers by cooperative is as follows:
- Shivashikhar Cooperative: 57 people
- Kantipur Cooperative: 52 people
- Oriental Cooperative: 8 people
- Tulasi Bahumukhi Cooperative: 9 people
- Ideal Yamuna Cooperative: 9 people
The government has clarified that the funds recovered from loan collections of troubled cooperatives were directly refunded to the victim savers. The Committee stated that in the first phase, savers with smaller deposit amounts were refunded.
Similarly, refunds will be made in stages based on the classification of savers' deposit amounts. The work of refunding savings to the savers of the respective cooperatives from funds obtained through loan recovery and asset management of troubled cooperative institutions is being carried out continuously in accordance with prevailing legal provisions.